Member Info for cd66beta

To be clear, the 58 mcfpd was from an "inexpensive experiment" with water only, as stated by Fadec the other two stages flowed at 216 mcfpd.

We had a bit of a love-in a couple of weeks back when you hoped myself, Brom, Mickey et al the best of luck with our holding strategy, did we not?

The Ian Paisley and Martin McGuiness of 88E, the new Chuckle Brothers with all past petty arguments put aside?

I do hope so and I wish you well with your health and investing Lefty.

A bit like with Brom awaiting an answer from Dunkin' - don't hold your breath Jiddy!

I wonder why you've had no reply to that Brom?!

Q - Whats the expected NPV of Winx-1?

"In terms of NPV, from a regulations perspective we are not allowed to put out statements regarding valuations but what we can say is that we agree with the break even prices which have been published recently by Oil Search and Conoco Philips and those are in the range of $35-40 per barrel.

In so far as the value of oil in the ground, Oil Search who's a recent entrant to the slope paid $3.10 for discovered oil in the ground when the oil price was $40 per barrel and obviously today it is closer to $85."

Q - Given there's a major oil discover made only 4 miles away and oil shows in previous wells drilled in licensed area , why is the chance of success 30%?

"In my opinion there is no such thing as low risk in exploration. There has been a very good success rate using 3D seismic on the NS recently, 5 out of 6 wells. We may be being conservative but we'd rather under price and be conservative and time will tell if we are or not."

Q - When will the flow test happen?

"We plan to flow test immediately."

Ha, exactly Brom!

As the board keeps filling up with tat, it's worth repeating:

"In so far as the value of oil in the ground, Oil Search who's a recent entrant to the slope paid $3.10 for discovered oil in the ground when the oil price was $40 per barrel and obviously today it is closer to $85."

Q - Whats the expected NPV of Winx-1?

"In terms of NPV, from a regulations perspective we are not allowed to put out statements regarding valuations but what we can say is that we agree with the break even prices which have been published recently by Oil Search and Conoco Philips and those are in the range of $35-40 per barrel.

In so far as the value of oil in the ground, Oil Search who's a recent entrant to the slope paid $3.10 for discovered oil in the ground when the oil price was $40 per barrel and obviously today it is closer to $85."

Q - Given there's a major oil discover made only 4 miles away and oil shows in previous wells drilled in licensed area , why is the chance of success 30%?

"In my opinion there is no such thing as low risk in exploration. There has been a very good success rate using 3D seismic on the NS recently, 5 out of 6 wells. We may be being conservative but we'd rather under price and be conservative and time will tell if we are or not."

Q - When will the flow test happen?

"We plan to flow test immediately."

DW stated - The rights issue he will fully participate in and will take up all the options he can afford to (even though they are out of the money), which will mean he has invested personally A$750,000 which is equivalent to almost all the post-tax cash salary he has received since he started. So "I'm pretty leveraged to this, it's not like I'm rich or anything. I've have had to pay for every share that I have. None have been given to me for free. I'm in the same boat as most of the shareholders."

Thanks for reporting all this Phron, very interesting and positive.

Please don't try to be funny, you're not very good at it.

Good luck Lefty. Whatever we disagree on I don't like to hear you are unwell and I hope you can make money in the markets whatever strategy you use.

"Steve Larrett" - there's a blast from the past. If I remember right he was once "Mr 88E", though much like Paul Ince once claiming everyone at Old Trafford called him "The Guvnor".

Brom, I worked with a guy who worked previously at boo.com, now when you talk about spending so much money to produce so little they are the case study!

"One of the most famous fails of the dot com era is Boo.com, a would-be pioneer in the ecommerce space. It was founded in ’98, started selling branded fashion apparel in ’99, and ended up burning through $135 million in 2 years. A delayed launch, bad user experience and even worse timing led to a complete failure. In the time passed, online retail has taken over many households, largely due to brick and mortar stores doubling up in the digital space. You can see (and try not to laugh at) what Boo.com looked like at launch via the Internet Archive."

I see, "May be a clue, may not” is a disclaimer that allows you to post any old fear-mongering nonsense?

Looks like Rich T's trying to divert attention from his CR around the London presentation claim; remember this peach:

"88E Forward Selling 14 Sep '18
Watch out for the rounded up figures, 1,2,6M, 500k etc. A few weds, non yday but a few already today, may be a clue, may not, worth watching though for the more “open minded” investor"

It would have been impossible to accumulate as much acreage as we now at the price we have paid if the strategy was to have bought a small lease and to get oil there flowing immediately. The accumulation of land plan might be at a snails pace to some but that's how value is build and it takes time.

Maybe our gateway to lowering costs on IW2 horizontal too Brom?

The tidying up might have been at the request of a potential partner, perhaps one who has worked/works with ASRC on other projects, opening a few doors for this agreement as it would benefit 3 parties?

Good spot Brom, partnering in exploration with a company which provides oil field services, equipment and expertise should result in discounts for these services.

Looks like a tidy bit of business, literally in terms of the acreage shape now. Mike's reasoning is sound on the benefits of this.